Negros Occidental inflation rate drops

Decrease in prices of some commodity groups led to a slight decline in inflation rate for all income households in Negros Occidental, from 7.9 percent in August to 7.6 percent in September, data released by the Philippine Statistics Authority (PSA) showed. Based on the summary inflation report dated Oct. 7, the September inflation in the province was the same as July's, after higher rates in June, 8.1 percent; May, 8.3 percent; and April, 8.8 percent. 'The decrease in prices of food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, and personal care/miscellaneous goods and services contributed to a slight decrease of inflation rate for the month September,' the report said. It added that food inflation in the monthly decrease of seasonally adjusted consumer price index (CPI) for September, resulted in a decline at 9.7 percent, from 10 percent in August. Inflation rate in this highly-urbanized city, meanwhile, increased from 5.7 percent in August to 6.4 percent in September brought about by a slight annual increase in prices of some commodity groups, including food and non-alcoholic beverages, alcoholic beverages and tobacco, health, and transport. The CPI provides a general measure of the changes in average retail prices of commodities bought by a specific group of consumers in a given area and a given period. Inflation is the annual rate of change or the year-on-year change of the CPI expressed in percent and is interpreted in terms of the declining purchasing power of money.

Source: Philippines News Agency